TSKB secures a 100 mn EUR loan from EIB

Industrial Development Bank of Turkey (TSKB) secured a EUR 100 million loan from the European Investment Bank (EIB). The Loan is to be used for the financing of SMEs and Mid-cap entreprises in Turkey.

Industrial Development Bank of Turkey (TSKB) secured a EUR 100 million loan from the European Investment Bank (EIB) for the purpose of financing Turkish SMEs and Mid-caps entreprises. The Loan will be used with an 8 year tenor with the guarantee of the Republic of Turkey Prime Ministry Undersecretariat of Treasury.

The signing ceremony was attended by Mr. Werner Hoyer, President of the European Investment Bank, Mr. Dietmar Dumlich, Division Head responsible of Public Sector Operations in Turkey, Mr. Özcan Türkakın, CEO of TSKB and Mr. Orhan Beşkök, Senior EVP of TSKB.

TSKB’s CEO, Mr. Özcan Türkakın stated that “The signing not only coincides with the 65th anniversary of our Bank but also happens to mark the 50th year of our cooperation with the European Investment Bank. SMEs have a significant impact on employment, manufacturing and exports. The financial support we provide to the SMEs will continue to increase.”

TSKB has secured its first loan from the European Investment Bank in 1965. The first loan in the amount of 4.2 million ECU (European Currency Unit) was used to support investments of the private sector promoters. With the 26 finance contracts signed between EIB and TSKB, over EUR 1.8 billion of long-term funds were extended to the investments of the Turkish private sector.

The on-going cooperation between the two institutions within the recent years is primarily focused on the financing of SMEs and Mid-caps, and the fields of sustainable tourism, renewable energy and energy efficiency.